$SCRIM is our game’s currency, but it also has real-world value. You can sell your $SCRIM for a profit or use your $SCRIM to upgrade your NFTs, purchase new ones, and boost your earnings in-game.
To begin earning, you must sign-up and mint a Dragon with Jersey NFT. Additionally, you must link your sportsbook accounts on our dashboard. This is required to verify your betting results so we can reward you for betting.
Each Dragon with Jersey is unique and has specific attributes that directly affect the amount you earn while betting. These attributes can be upgraded when playing, resulting in additional earnings.
This interview was conducted over emails with team BitcoinWorldand this is what the founder has to say about Scrimmage.
1: Briefly shed some light on Scrimmage and how it performs
Scrimmage is the first web3 rewards program for sports bettors. Scrimmage allows sports bettors the ability to earn bonus rewards in the form of tokens ($SCRIM) and NFTs for the sports bets that they are already placing on their favorite sportsbooks. With no digital wallet or previous crypto experience needed, Scrimmage creates an accessible on-ramp for users to access the benefits of web3.
Our token is backed by our affiliate contracts with major US sportsbooks, providing a base layer of value accrual to the $SCRIM token.
Step 1 – Receive an NFT that fits the user’s betting style
Step 2 – Users sync their favorite sportsbooks with Scrimmage (DraftKings, FanDuel, BeMGM, PointsBet, BetRivers, Sugarhouse, Unibet, Caesars, PrizePicks & more)
Step 3 – Earn $SCRIM tokens after their bets settle
Step 4 – Use their $SCRIM to upgrade their NFT, increase their daily bankroll, buy new NFTs, and earn even more $SCRIM
Step 5 – Cash out their $SCRIM
Users may also trade in and out of NFTs in order to find the NFTs that best fit their style.
2: Since sports betting is quickly moving from traditional web2 sports books to new web3 systems, How does Scrimmage plan to be a leader in bridging the gap?
The sports betting industry is attempting to move from web2 into web3 but has not found mass adoption yet. The main reason for this is users still enjoy betting on their favorite web2 platforms, especially since most supplementary applications are built around the web2 sportsbook user experience. Because of this, web2 sportsbooks still dominate in market share.
Scrimmage helps users that are both web3 native and users that are completely unfamiliar, by allowing users to continue betting on their favorite web2 sportsbooks while accessing the benefits of web3. Instead of relying on one sportsbook’s loyalty program, the $SCRIM token gives users cashback on their bets no matter where the bet is being placed.
3: Scrimmage has its own game currency; briefly describe how it works and whether it has real-world worth; and if it does, elaborate on how one might use it to upgrade their NFTs.
The NFTs are one part of the game, while the currency is the other part. This game currency is called $SCRIM, which is earned as a user plays the game. The NFTs are the keys that unlock the ability to earn SCRIM, and depending on the level of the NFTs, more or less $SCRIM will be earned. Once $SCRIM is earned it can be used to upgrade NFTs and buy new NFTs, allowing for even more $SCRIM earnings. However, $SCRIM is more than just an in-game currency, it is an actual cryptocurrency with a real-world value that can be withdrawn and sold, functioning as the gateway to giving our users cash back on their bets. Scrimmage receives on average $200 for each new user sign-up we bring to a sportsbook. This is what makes Scrimmage unique from other P2E-type games – we have a viable outside revenue source that we are staking back to the community to accrue value to $SCRIM.
4: Considering sports betting is one of the world’s fastest-growing sectors, with hundreds of billions of dollars, risked each year, how will Scrimmage handle this growth and associated entries?
Scrimmage is well equipped to grow with the rapidly growing sports betting market. Currently, users can sync their sportsbook accounts with us at over a dozen sportsbooks in the USA. We will be quickly adding sportsbooks across the world to give all sports bettors the benefits of Scrimmage. We have a talented development team, and we are actively hiring to build it out even further.
5: Why don’t you at Scrimmage believe that a consumer should not have to fully modify their betting habits in order to benefit from what web3 sports betting can offer?
Users absolutely should not have to alter their betting habits in order to benefit from web3. If we want to bring new users into the web3 ecosystem we have to give users the benefits in an adaptable way. Web3 sportsbooks provide interesting solutions to user problems but do so in a way that is forcing a user to completely alter the way they bet, which is incredibly detrimental to the user experience.
If the web3 community wants to bring on the next 100,000,000 users, we have to slowly integrate new users in ways that are tangibly beneficial to them and easy to access.
6: How does Scrimmage monetize its platform?
1) NFT sales
An NFT will be required to enter the game. The NFT can be purchased at the market price.
2) NFT trading royalties
The scrimmage will charge a 2% trading fee and a 4% royalty fee on all NFT trading.
3) Sportsbook affiliate revenue
This revenue will be staked back to $SCRIM holders.
7: Care to explain the problems that Scrimmage has experienced and how you have dealt with them thus far, as well as highlight notable Scrimmage triumphs.
Like all startups, Scrimmage has experienced some highs and lows. We have an incredibly strong team of 6 and we have the expertise and capital to build an entirely new sports betting product for millions to benefit from.
Some of our highs:
- We were accepted into the Techstars Sports Accelerator 2022 which has a < 1% acceptance rate.
- We raised a pre-seed round led by IA Sports Ventures and Eberg Capital.
- We organically built a social media following across Instagram, Twitter, and Discord of over 150,000 before we transitioned our company into web3. Our community is full of sports bettors.
- Our beta testers love our product, and we are so excited to release it shortly.
Our lows:
- It is a tough market for a startup, but we have raised capital and have an incredibly solid core team.
- Apple NFT rules have forced us to adjust our IOS app, but we feel confident with where it is now.
8: Closing notes
Sports betting is a fast-growing industry but is redundant in the innovations being brought to market. Right now, the largest issue is the cost per trade that sportsbooks charge bettors in order to take their bet. This cost is what is stopping sports betting from being viewed as anything other than recreational and causes millions of bettors to lose money. Scrimmage solves this issue by providing cashback on users’ bets in the form of $SCRIM tokens, no matter where the user is betting.
